MEXC MEV BOT UPDATE. Hello All,.

24 Jun 2023, 14:39

MEXC MEV BOT UPDATE Hello All, We have had a productive morning with the MEXC team and I now have an official update to provide to you all and it is a positive one. I will do my best to explain it all and I also thank the community members for the astuteness but also their persistence in this matter. ACTION - Live now The MEXC team has reconfigured our API and removed the ability for users/account holders to set up bots when trading $MCADE on their platform. This means MEV Bots and other autonomous trading set ups can no longer function directly with the MEXC platform. This is something no one was aware was possible and this will provide us data and actual proof that we can restrict the capability of the wallet ending '2fe' without having to delist from MEXC. It's a clear step in the right direction and we can all see if it works. THE FACTS I have spent sometime with the team and looking into specific projects and their own circumstances. I am not going to comment on speculation but what I do know is the following: If a token is listed on SPOT and not Futures / Perpetual where leverage can be applied then we naturally have more control of our environment. The examples online very focus on referencing leverage shorting etc. This is not applicable to us and our token. There are no public claims or speculation related to SPOT listings. CONCLUSION We proceed with the API disabled so the community can see everything and we can prove that we have controlled and eliminated this selling pressure. The connection to MEXC that some of the great community have identified has been this ability to API directly into the platform and trading pair. On a small note - wallet ending 88e appears to hold no more $MCADE. THE COMMUNITY If you see the two wallets in question continue to behave in this way as from now then we escalate things to the next level. It also goes for any wallet behaviour that connects to an exchange in a automated fashion. We can't stop manual arbitrage but we can be mindful of it and right now, there is no arbitrage opportunity as the DEX and CEXs are closely aligned in price. You need automation to achieve any margin and we have hopefully just removed it. To confirm, we will not be delisting from MEXC. We have an opportunity to stress test everything and draw sensible conclusions. If the manipulation ceases then it is business as usual. We were not aware of these options as are many other projects. I will be writing an article on this not only to raise awareness of us but also help other projects under attack at key points in their development. Regards, Russell Bennett CEO - Metacade.